Coinbase falling is a big deal

[iCEBREAKER]

I was just told on another thread that we should not panic about coinbase and that they aren't going out of business. There is apparently a rumor that they are having problems but it is just a rumor. I'm not going to worry about it right now because  they have been very stable for a long time as far as I can tell.

Where do you get your news from? They rebranted their exchange and added eth to it. Nothing more to it.

Coinbase's financial backers (IE ratfucking VC shitlords) need to see an ROI sufficiently exorbitant to justify their investment in such a speculative high-risk sector.

We have been hearing rumors Coinbase has been unable to deliver such an ROI, nor provide a credible plan to attain one.

This provides a non-trivial amount of possible insight into Coinbase's recent anti-Bitcoin behavior.

Coinbase's business plan was to position itself as the premier rent-collecting bottleneck between fiat and Bitcoin.

But that hasn't worked out, for a plethora of reasons we need not digress into here.

In sheer desperation, Coinbase has now gone 100% Full Buttcoiner, doubling down on their CEO's previous Core trolling with Precious Fred's recent (and predictable) ETH Manifesto.

Should things get out of hand, I anticipate Szaboshi will end, with one of his trademark Domination Tweets, this latest chapter in the Great Schism.   

[UngratefulTony]

I was just told on another thread that we should not panic about coinbase and that they aren't going out of business. There is apparently a rumor that they are having problems but it is just a rumor. I'm not going to worry about it right now because  they have been very stable for a long time as far as I can tell.

Where do you get your news from? They rebranted their exchange and added eth to it. Nothing more to it.

Coinbase's financial backers (IE ratfucking VC shitlords) need to see an ROI sufficiently exorbitant to justify their investment in such a speculative high-risk sector.

We have been hearing rumors Coinbase has been unable to deliver such an ROI, nor provide a credible plan to attain one.

This provides a non-trivial amount of possible insight into Coinbase's recent anti-Bitcoin behavior.

Coinbase's business plan was to position itself as the premier rent-collecting bottleneck between fiat and Bitcoin.

But that hasn't worked out, for a plethora of reasons we need not digress into here.

In sheer desperation, Coinbase has now gone 100% Full Buttcoiner, doubling down on their CEO's previous Core trolling with Precious Fred's recent (and predictable) ETH Manifesto.

Should things get out of hand, I anticipate Szaboshi will end, with one of his trademark Domination Tweets, this latest chapter in the Great Schism.   

Stahp! my sides! How much money have your buddies' Blockstream raked in from these shitlords again?? Where is their revenue? Surely dwarfs the amount of business Coinbase does?

The whole reason we got into this mess was because Blockstream doesn't have a business model unless they can cripple the utility and throughput of the native Bitcoin network. In their arrogance they forgot that they don't have a monopoly on cryptographic value transfer... Competitors are now coming in to fill the demand Bitcoin can't. It hasn't worked quite as well for your pet coin Monero as you might have hoped and planned, but it is happening.

The only thing I see is Coinbase diversifying itself away from being completely reliant on, and invested in, a network that has become the plaything and tinker-ground of Blockstream. They'd be fools not to at this point. 

[pooya87]

yeah, i agree with this. if CoinBase does a scam/falls or closes down or whatever that would be so bad for bitcoin community because it is one of the easiest ways for NEW people to get into bitcoin by doing everything in one place: buying-selling-holding as a wallet.

although i have not yet seen any indication of them falling!

[Bitcoinpro]

I just spoke to coinbase on the phone. Yes the phone. The guy I spoke to said they weren't aware of any issues. He seemed shocked I was able to get his number.

(800) 343-5845 is there support line which goes to a vm

(850) 728-9952 goes to Blake Ratliff - Works in compliance and investigations. This is the guy I spoke with who seems to be the right contact

(415) 513-9024 is the CEO Brian's direct line- was busy when I tried.

Lol, serious? Not aware of any issues?

scammers never are

[Bitcoinpro]

I just spoke to coinbase on the phone. Yes the phone. The guy I spoke to said they weren't aware of any issues. He seemed shocked I was able to get his number.

(800) 343-5845 is there support line which goes to a vm

(850) 728-9952 goes to Blake Ratliff - Works in compliance and investigations. This is the guy I spoke with who seems to be the right contact

(415) 513-9024 is the CEO Brian's direct line- was busy when I tried.

Im sure Brian's going to be happy today when he gets a heap of calls from people who just glanced at this topic and really think that Coinbase is going down.
They are just rebranding and adding a couple of additional coins.
they have to keep up with the times or they will fail, this is a good thing to happen for Coinbase users.

I think there are some serious trolls or shills who keep saying it's failing to cause panic.

how much money have u got in  Coinbase

u know defending them dosnt get ur money back

are u happy to know they lied and haven't insured any of ur funds?

call the poliice it's blatant fraud

[alyssa85]

A bunch of these FUD posts are popping up because coinbase enabled ETH trading today. They got tired of watching Bitcoin's utility and competitiveness be eroded away to benefit Blockstream's plans for a settlement layer model for BTC. As Core has capped the potential growth of the Bitcoin network... businesses, users, and investment will flow to competitors. It's not personal, it's just simple 101-level economics.

This. They are under concerted attack from people cross at them for adding Ether. What did blockstream expect? All the stuff they promised (SegWit etc) hasn't happened, and the network is getting more and more congested. It is natural for Coinbase to respond - because their users want an alternative too.

[Herbert2020]

it is really going to suck if another big bitcoin related service turns into scam and goes down, especially because they have been kind of a huge deal in bitcoin both for buying bitcoin and using as a wallet.

[amacar2]

it is really going to suck if another big bitcoin related service turns into scam and goes down, especially because they have been kind of a huge deal in bitcoin both for buying bitcoin and using as a wallet.

Coinbase is not turning into next mt gox for sure as i have heard they have some kind of financial insurance and they are running under governement authorization so they can't just run away with users fund. But later they have lots of withdrawl probelm as posted by several users here in forum.
They are also adding ethereum and litecoin option and rebranding thats why people are panicing thinking coinbase is against bitcoin but that is not. There are also other lots of bitcoin exchangers and wallet we can rely on.

[crazyivan]

Sometimes I really feel this forum should be heavily moderated. So much FUD wherever one looks.

[nlwnola]

well, i have my coins ready to go just in case.  Gemini just opened my new exchange account today and i've got a few new paper wallets handy.  

I seriously think this is nothing but it is always better to be safe than sorry.  Looking at something that is not backed by some kind of major insurance like FDIC or SIPC, I can see how this can freak people out.  First off having mass amounts of money in bitcoin is prob not a good idea to begin with.  Its way to volatile.  Diversification is the best bet.  Cash, stocks, bonds, bitcoin, gold, and so on.  

Remember the old saying "Pigs get fat... Hogs get slaughtered"  

[bitkilo]

Sometimes I really feel this forum should be heavily moderated. So much FUD wherever one looks.

Could be a very hard job to moderate the FUD out of this forum, it is everywhere.

Who could you trust to do this, what is FUD to one users can be considered telling the truth by another, although it is pretty easy to pick in this thread.